News Post
LyondellBasell signs MOU with Bora Enterprise Group for China expansion
Chemical and fuel company LyondellBasell Industries said it has signed an MOU to form a joint venture with China’s Bora Enterprise Group to build a chemical complex in northeast China.
LyondellBasell and Bora may invest as much as $12 billion over the next 10 years in a series of petrochemical projects in Liaoning’s Panjin city. LyondellBasell will take a 50% stake in the chemical projects being built by the Chinese firm, it said.
Among the proposed phase-one investment with a total cost of $2.54 billion are the production of 800,000 tpy of polyethylene, 600,000 tpy polypropylene and 350,000 tpy styrene.
LyondellBasell currently operates three polypropylene compounding facilities in China located in Guangzhou, Suzhou and Dalian.
Source: Reuters
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